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"I think it was the fact that I liked it so much that made the writing just come out of me automatically."
Author Name
Personal Development
"You're not a historian, but most historians will tell you that they make very discrete judgment as to what facts to omit in order to make their book into some shape, some length that can be managed."
Author Name
Personal Development
"Almost any biographer, if he respects facts, can give us much more than another fact to add to our collection. He can give us the creative fact; the fertile fact; the fact that suggests and engenders."
Author Name
Personal Development
"There's one more terrifying fact about old people: I'm going to be one soon."
Author Name
Personal Development
"I never knew a more presumptuous person than myself. The fact that I say that shows that what I say is true."
Author Name
Personal Development
"I just cash in on the fact that I'm good looking, and I've got a nice figure and girls like me."
Author Name
Personal Development
"One of the most obvious facts about grown-ups, to a child, is that they have forgotten what it is like to be a child."
Author Name
Personal Development
"Necessity is not an established fact, but an interpretation."
Author Name
Personal Development
"Misquotation is, in fact, the pride and privilege of the learned. A widely- read man never quotes accurately, for the rather obvious reason that he has read too widely."
Author Name
Personal Development
"Facts and Facts, very useful once out there and there!"
Author Name
Personal Development
More
"The HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper."
First
"In the interest rate area, traders have for a long time used a version of what is known as Black's model for European bond options; another version of the same model for caps and floors; and yet another version of the same model for European swap options."
Time
"There are challenges in terms of the measurement of VAR for what are known as nonlinear derivatives, where things like gamma and vega are important dimensions of the risk."
Risk
"If each of your time steps is one week long, you are not modeling the stock price terribly well over a one-week time period, because you are saying that there are only two possible outcomes."
Time
"Our research led on to other things, such as the fact that exchange rates are not lognormally distributed."
Fact
"Alan White and I spent the next two or three years working together on this. We developed what is known a stochastic volatility model. This is a model where the volatility as well as the underlying asset price moves around in an unpredictable way."
Years
"One important measurement issue concerns the fat tails problem that I mentioned earlier. VAR is concerned with extreme outcomes. If the tails of the probability distributions we are using are too thin, our VAR measures are likely to be too low."
Extreme
"Yes, our tree has an interesting shape. The center branches reflect the shape of the zero curve. When extreme parts of the tree are reached the branching pattern changes to accommodate the mean reversion."
Extreme
"We concluded that you cannot rely on delta hedging alone. It sounds simplistic to say that now, but back then, this was the sort of thing people were only just beginning to realize."
People
"Briefly speaking, our conclusion is that stochastic volatility does not make a huge difference as far as the pricing is concerned if you get the average volatility right. It makes a big difference as far as hedging is concerned."
Difference
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